The Blog

4 Ways to Budget for a Getaway

Sometimes the hardest part of planning your vacation is figuring out how to budget for it.

Although you may be eagerly awaiting the day your getaway gets here, remembering to save in the moment can often be difficult. Moreover, it can be hard to know exactly how much you should budget or how you should go about planning a budget on top of your normal one.

By following a few simple tips, you can figure out the best way to plan and budget for a getaway.

Decide How Much You’re Willing to Spend

First and foremost, you need to decide how much you can and are willing to spend on your vacation. Depending on the amount you’re planning on spending, your budgeting plan may either be a short-term or long-term plan. The amount may also determine how much you decide to set aside each week or month as well when you budget for a getaway.

Pick a Location

This goes hand in hand with the amount you’re willing to spend, as the destination itself will tell you how much your vacation may cost. As you decide where you’d like to go, consider any activities, outings or specific places you may want to stay, as you’ll have to figure that into your budget also.

Research Expenses

This is probably one of your biggest steps. Take the time to gather all the information you can about the place you’d like to go. Find out the average numbers for lodging, travel and activities for your destination. You’ll also want to figure in food costs, a possible rental car and whether or not you’ll want to buy any souvenirs.

Furthermore, be sure you take into account the time of year you’re going, as every place has its peak tourist season and it’s in that season that lodging and travel are often higher. Scour every last resource, from the internet to guide books, to get a picture of just how much your trip will cost.

Figure Expenses into Your Daily Budget

Your last step is figuring your travel budget into your weekly or monthly budget. Take the total cost of your trip, figure out how long you want to save for your trip and then break it down into increments accordingly.

Sit down and take a look at the budget plan you already have into place. Look carefully at your non-discretionary costs and decide what you can cut down or cut out for the amount of time you need to budget. You may need to give up your daily lattes or decrease your nights out for a short period of time to accommodate your vacation costs.

Planning your dream getaway doesn’t have to be difficult. You merely need to figure out all the details and costs and assimilate those cost into the monthly budget you already have in place. After that, budgeting for your vacation is all about willpower in sticking to that budget. If you can do that, you’ll be exploring in no time.

How do you budget for a getaway? What are some of the tips you’ve found helpful?